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The latest announcement is out from Latin Metals ( (TSE:LMS) ).
Latin Metals Inc. has signed an arrangement agreement to spin out its Para and Auquis copper projects in Peru into a new, wholly owned subsidiary, Latin Explore Inc., which will function as a self-funded, discovery-focused explorer targeting near-term drill discoveries. Under the planned statutory plan of arrangement, Latin Metals shareholders are expected to receive approximately 10.9 million Latin Explore shares, with the parent company retaining about 2.7 million shares and Finco investors holding the majority stake following a $2.5 million concurrent financing; Latin Explore will seek a TSX Venture Exchange listing, giving investors parallel exposure to Latin Metals’ prospect generator model and a new vehicle focused on drill-ready copper projects and acquisition opportunities in Latin America.
More about Latin Metals
Latin Metals Inc. is a Vancouver-based mineral exploration company focused on Latin America, operating primarily as a prospect generator. The company advances early-stage assets, particularly copper projects, through partner-funded exploration to minimize shareholder dilution while leveraging industry partnerships for discovery and development.
Average Trading Volume: 81,589
Technical Sentiment Signal: Buy
Current Market Cap: C$24.07M
Find detailed analytics on LMS stock on TipRanks’ Stock Analysis page.